Glossary

JKL

Liability Insurance: insurance for what the policyholder is legally obligated to pay because of bodily injury or property damage caused to another person

Limits: maximum amount of insurance that can be paid for a covered loss

Liquor Liability Insurance: provides a business coverage for bodily injury or property damage if they are held legally liable because of:

causing or contributing to the intoxication of any person

furnishing alcoholic beverages to a person under the legal drinking age or under the influence of alcohol

violating any statute, ordinance, or regulation relating to the sale, gift, distribution, or use of alcoholic beverages

Loss of Use: provision in homeowners and renters insurance policies that reimburses policyholders for any extra living expenses due to having to live elsewhere while their home is being restored following a disaster